Türkiye’s annual exports have climbed to an all-time high of $270.6 billion, Trade Minister Ömer Bolat announced on Thursday, marking a significant milestone for the country’s economy amid ongoing global uncertainty.

Speaking in Ankara, Bolat emphasized that Türkiye’s export sector has demonstrated strong resilience, with foreign sales over the past twelve months reaching their highest level on record. The minister highlighted that this performance reflects the growing competitiveness and global reach of Turkish industry.

According to the latest figures, Türkiye exported $22.7 billion worth of goods in November, an increase of 2.2% compared to the same period last year, despite what officials described as a negative calendar effect. Over the first eleven months of 2024, exports totaled $247.2 billion, up 3.7% year-on-year. Nine of those months registered export increases.

While export growth has been strong, Türkiye continues to face a sizeable foreign trade deficit. Imports in November rose 2.6% to $30.5 billion, resulting in a monthly deficit of $7.8 billion. From January to November, the overall trade gap reached $82.5 billion. Reducing this deficit remains a key priority under the government’s medium-term economic program, which aims to boost value-added production and improve the balance of trade.

Officials say the record export performance is the product of long-term strategic efforts. Türkiye has been diversifying its export markets, pursuing new trade agreements, and expanding production in high-value sectors such as defense, automotive technologies, and green industry. Investments in industrial zones and support programs for small and medium-sized enterprises are also intended to strengthen the foundation for sustained export growth.

The latest export data reinforces Türkiye’s push toward greater economic independence and its ambition to solidify its role as a key manufacturing and trade hub connecting Europe, Asia, and the Middle East. (ILKHA)